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Amendment of section 22 of Act of 1971.
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39.—Section 22 of the Act of 1971 is hereby amended:
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(a) by the substitution of the following subsections for subsection (2):
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“(2) The Bank may give a direction to a holder of a licence to refrain from—
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(a) publishing or continuing to publish, or
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(b) causing to be published or to be continued to be published,
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during such period as shall be specified in the direction an advertisement inviting deposits from the public.
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(2A) The Bank may give a direction to a holder of a licence to refrain from—
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(a) publishing or continuing to publish, or
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(b) causing to be published or to be continued to be published,
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an advertisement containing information in respect of any service provided or to be provided to the public or any charge, term or condition upon which a service is so provided (or to be so provided) which, in the opinion of the Bank is false, misleading or calculated to deceive.”;
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(b) by the addition of the following subsection after subsection (3):
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“(4) In this section:
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‘advertisement’ includes every form of recommendation of any matter to which this section relates including, in particular, the display or publication of any such matter by way of notice, leaflet, circular, pamphlet, brochure, photograph, film, video, sound broadcasting, television, electronic communication or personal canvassing;
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‘deposits’ includes any funds taken from the public and payable on demand or on notice or at a fixed or determinable future date.”.
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